Key Points
- Director Richard Hume sold 5,000 TD SYNNEX shares on May 5 at an average price of $233.85 for a total of $1,169,250, reducing his stake by 12.97% to 33,537 shares; the trade was executed under a pre-arranged Rule 10b5-1 plan and disclosed in an SEC filing.
- TD SYNNEX reported a strong quarter with $4.73 EPS (vs. $3.24 expected) and revenue of $17.16 billion (up 18.1% YoY), while the stock is trading near its 52-week high (around $234) and shows elevated moving averages.
- Analysts are broadly positive—TD SYNNEX has an average rating of "Moderate Buy" (average target ~$197.70) with recent upgrades including RBC raising its target to $250—and institutional ownership is high at roughly 84%, driven by large stakes from firms like Norges Bank and AQR.
TD SYNNEX Corporation (NYSE:SNX - Get Free Report) Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $233.85, for a total transaction of $1,169,250.00. Following the transaction, the director owned 33,537 shares in the company, valued at approximately $7,842,627.45. This trade represents a 12.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
TD SYNNEX Stock Performance
Shares of NYSE SNX opened at $234.23 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The company has a market cap of $18.83 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.02 and a beta of 1.40. The firm's fifty day moving average is $183.18 and its two-hundred day moving average is $164.54. TD SYNNEX Corporation has a 52-week low of $114.04 and a 52-week high of $236.00.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the previous year, the firm posted $2.80 EPS. TD SYNNEX's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that TD SYNNEX Corporation will post 15.69 EPS for the current fiscal year.
TD SYNNEX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX's dividend payout ratio is presently 15.96%.
Institutional Investors Weigh In On TD SYNNEX
Several hedge funds have recently modified their holdings of SNX. Norges Bank purchased a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $148,559,000. Alyeska Investment Group L.P. purchased a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $135,631,000. AQR Capital Management LLC lifted its position in shares of TD SYNNEX by 141.8% in the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider's stock worth $140,431,000 after purchasing an additional 548,180 shares during the period. Victory Capital Management Inc. lifted its position in shares of TD SYNNEX by 123.6% in the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock worth $119,263,000 after purchasing an additional 402,573 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of TD SYNNEX in the 4th quarter worth approximately $60,104,000. Hedge funds and other institutional investors own 84.00% of the company's stock.
Wall Street Analysts Forecast Growth
SNX has been the topic of several analyst reports. Royal Bank Of Canada upped their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Barrington Research reiterated an "outperform" rating and set a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. Weiss Ratings reissued a "buy (b)" rating on shares of TD SYNNEX in a research report on Monday. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. Finally, Morgan Stanley boosted their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an "overweight" rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $197.70.
View Our Latest Stock Analysis on SNX
TD SYNNEX Company Profile
(
Get Free Report)
TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.
The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.
Further Reading
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